Prior to the release of the Cupertino tech giant’s larger screen iPhones, Apple had acquired $578 million worth of sapphire and had partnered with GT Advanced Technologies to incorporate the synthetic sapphire sheets to the screen, camera lens and home button of the iPhone 6 and iPhone 6 Plus. Unfortunately, due to production and management issues, GTAT had filed for bankruptcy, forcing Apple to retain the shatterproof displays for its larger screen smartphones.
Now, it looks like Apple will be tapping someone else to take GTAT’s place to incorporate those sapphire sheets. According to the metrics present on the Taiwanese stock market, three companies, Acme Electronics Corp, Crystalwise Technology Inc. and Highlight Tech Corp. have had their stock prices skyrocketed this Tuesday. All of the three firms have made gains of seven percent, leading to the speculation that Apple might be triangulating one, or all companies in its crosshairs for a potential partnership.
After GT Advanced Technologies had filed for bankruptcy this October, the clause protected the company from having to liquidate their tangible assets. In addition, Apple has also provided the firm with a stable ground to protect GTAT from going completely out of business, which is why at the time of bankruptcy, shares of GTAT stood at $0.44.
Foxconn, the multinational component assembling company has been Apple’s long term partner. Apple was also reported to pay the company $24 per iPhone 6 Plus device being assembled compared to the initial agreement of $20 in order to mitigate the influx of demand sprouting from China, demanding exorbitant quantities of Apple’s phablet sized iPhone. Apple could very well be looking at Foxconn to start assimilating sapphire glass in to its next iteration of iPhones. Apple has currently not commented on the rumor but interested readers will be kept in the loop as soon as more news becomes disinterred.